S Corporation Tax Compliance Challenges
Overcoming Hurdles for 1120S Filers: Loan Treatment, Entity Formation, Tax Rate Planning and Others
Recording of a 110-minute CPE/CLE webinar with Q&A
This CLE course will identify persistent and complex compliance challenges with forming the initial S corporation entity and filing tax returns. A panel with extensive S corporation experience will guide advisors and taxpayers on alternatives to improve taxpayer performance in the most vexing areas.
- Ongoing S corporation compliance challenges
- Initial entity election
- Maintaining the S corporation election
- Distributing S corporation shares among holders
- Decisions about allocating basis in S corporation debts
- E.g. back-to-back loans
- Planning for possible tax rate changes
- Other compliance challenges
- Analysis of possible options for improving compliance in each area
The panel will address these and other key topics for Form 1120S filers:
- The S corporation election: Handling the tricky aspects of the initial election and maintaining entity status.
- S corporation shares: Deciding which entities should hold them and evaluating whether they remain the right entities to use.
- Basis decisions: Accurately calculating shareholder basis in back-to-back loans and other categories of S corporation debt.
- Tax rate planning: What will happen if the federal government raises income tax rates as expected?
William C. Staley
Law Offices of William C. Staley
He specializes in tax planning and general business law for closely held businesses and has presented on S corporation... | Read More
He specializes in tax planning and general business law for closely held businesses and has presented on S corporation topics for the California Society of CPAs and other professional groups.Close
C. Wells Hall, III
He specializes in advising clients on the tax implications of acquisitions, reorganizations, restructuring of business... | Read More
He specializes in advising clients on the tax implications of acquisitions, reorganizations, restructuring of business entities, and other transactions. He focuses on using pass-through entities such as S Corps, LLCs and partnerships. He has represented clients before the IRS and the North Carolina Revenue Department.Close
He is assigned to the firm's Partnership and Pass-Through Group, assisting local offices with partnership and S... | Read More
He is assigned to the firm's Partnership and Pass-Through Group, assisting local offices with partnership and S corporation projects. He also has helped conduct a number of S corporation-related conferences and training seminars.Close